119-HR5004

Bill is currently in: House
Path to Law
House Senate President

119th CONGRESS

1st Session

H. R. 5004

1. Short title
2. Reduction of the eligibility requirement for direct farm real estate loans under the Consolidated Farm and Rural Development Act

1. Short title

This Act may be cited as the "Next Generation of Farmers Act of 2025".

2. Reduction of the eligibility requirement for direct farm real estate loans under the Consolidated Farm and Rural Development Act

Section 302(b) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922(b)) is amended—

(1) In general - by striking paragraph (1) and inserting the following:

(1) In general - The Secretary may make a direct loan under this subtitle only to a farmer or rancher who has at least 1 year of experience substantially participating in the management and business operations of a farm or ranch, as determined by the Secretary, or has other acceptable education or experience for a period of time, as determined by the Secretary.

(2) - in paragraph (4)—

(A) - in subparagraph (A), by striking "3-year requirement in paragraph (1) to 1 or 2 years" and inserting "1-year requirement in paragraph (1) to 6 months"; and

(B) - in subparagraph (B), by striking "3-year" and inserting "1-year".